Stablecoin issuer Paxos has recently released the first transparency report for PayPal USD (PYUSD), an Ethereum-based stablecoin. The report has provided insights into the backing of the coin, reassuring users that it is fully backed by assets. As of August 31, 2023, the total tokens outstanding amount to $44.4 million, while the total assets held
Ethereum
Lido Finance, the Ethereum staking protocol, has responded to allegations that hackers exploited a security flaw in the token contract of Lido DAO (LDO). Despite the existence of the flaw, Lido Finance assures users that both the LDO and staked-Ether (stETH) tokens remain secure and unaffected. While Lido Finance did not confirm any specific exploits,
In a shocking revelation, the Federal Bureau of Investigation (FBI) has identified the North Korean Lazarus Group as the mastermind behind the recent $41 million hack of crypto gambling site Stake. This notorious cybercrime organization has a long history of carrying out sophisticated attacks, and the FBI has linked them to over $200 million in
The withdrawals were made from Stake.com contracts to an account identified as “Stake.com Hacker” by Etherscan. This alarming discovery suggests that a stolen private key may be at the center of this large-scale theft. The blockchain data reveals a series of substantial transfers, beginning with $3.9 million in Tether (USDT) and followed by 6,001 Ether
Ethereum staking services have recently reached a consensus, agreeing upon a maximum limit of 22% on all validators. This move is a significant step towards ensuring fair markets within the Ethereum network. By imposing a self-limit rule, at least five Ethereum liquid staking providers, including Rocket Pool, StakeWise, Stader Labs, and Diva Staking, are committed
A recent dismissal order by a United States District Court judge has sparked discussions about the legal classification of Ether (ETH). The judge, Katherine Polk Failla, referred to ETH as a commodity while dismissing a class action lawsuit against the decentralized exchange Uniswap. This decision raises important questions about the regulatory framework surrounding cryptocurrencies. Evaluating
Hong Kong has taken a significant step towards fostering a regulated and favorable environment for cryptocurrency trading. With the recent launch of retail trading services by HashKey Exchange, cryptocurrency traders in Hong Kong now have access to a locally based exchange. This move comes after HashKey was granted Type 1 and Type 7 licenses by
Circle’s CEO, Jeremy Allaire, has announced that the United States dollar stablecoin, USD Coin, will be launching natively on the Base network in the coming week. This new version will replace the current USD Base Coin (USDbC) that is currently being used by most users. When Coinbase’s Base network was launched on August 9th, there
Crypto’s newest decentralized social media (DeSo) app, friend.tech, has found itself in hot water recently due to its decision to punish users who opt for forks or copycat versions of its tokenized social media platform. In an Aug. 28 tweet, the official friend.tech X account stated, “To make sure loyal users are rewarded fairly during
The cryptocurrency exchange HashKey, which is the first licensed virtual asset provider in Hong Kong, is set to open its doors for retail trading on August 28. This development comes with investment limits imposed on users, allowing them to invest only up to 30% of their net worth into cryptocurrencies when using the platform. To
